Privacy Calculation Agreement ARPA conducted a questionnaire survey on DeFi users around the world, and accumulated more than 700 valid answers. The survey content covers the use of wallets and DApps by Chinese and foreign users and their participation in DeFi liquid mining. The main conclusions include: 1) The current number of DeFi users is expected to be around tens of thousands, which is only 1% penetration rate relative to the global 5 million crypto trading users; 2) The single biggest demand for DeFi users to participate is to obtain liquid mining rewards. Or excess interest income, the comprehensive rate of return must exceed the annualized 15% before users have the motivation to participate. 3) Users lack a sense of security for DeFi products driven by smart contracts, and the slow interaction speed and poor experience cause users to lose midway. The contract call fee is often as high as 10-20 US dollars, which is much higher than the expectation of 2 US dollars for ordinary users, so that only large accounts can participate. 4) Currently, DeFi is concentrated on ERC-20 tokens, and lacks the support of BTC collateral that is safe, good user experience, and low handling fees. The emergence of WBTC and RenBTC is expected to open up new markets.